Hello bitcoin traders and friends, welcome to my chart.
Every technical indicators and oscillators confirmed Bitcoin is at downtrend for surely at least couple weeks or a month.
Looking at the chart, two reasons that Bitcoin can find the final support line (probably $6500) before the new rally of upcoming third halving event.
First reason: market bias is turning into Disbelief phase of "Psychology of a market cycle".
Second reason: Then historically how does the Disbelief zone worked out and how 2019 Bitcoin rally was. I think we need to think about it.
And buyers are not much interested at current 7300-7500 prices.
Specifically my consumption is how fast will it drop to major support line?
- Price is playing under 7500 resistance line, and some analysist are saying there would be some correction 7600-7900 level.
But to me much more faster than that, because 2019 parabolic move up is copying to parabolic move down in this disbelief stage.
Thank you for your likes and comments.
Every technical indicators and oscillators confirmed Bitcoin is at downtrend for surely at least couple weeks or a month.
Looking at the chart, two reasons that Bitcoin can find the final support line (probably $6500) before the new rally of upcoming third halving event.
First reason: market bias is turning into Disbelief phase of "Psychology of a market cycle".
Second reason: Then historically how does the Disbelief zone worked out and how 2019 Bitcoin rally was. I think we need to think about it.
And buyers are not much interested at current 7300-7500 prices.
Specifically my consumption is how fast will it drop to major support line?
- Price is playing under 7500 resistance line, and some analysist are saying there would be some correction 7600-7900 level.
But to me much more faster than that, because 2019 parabolic move up is copying to parabolic move down in this disbelief stage.
Thank you for your likes and comments.